Nationwide Fund Advisors raised its stake in Kadant Inc (NYSE:KAI) by 4.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,955 shares of the industrial products company’s stock after buying an additional 3,522 shares during the period. Nationwide Fund Advisors owned 0.80% of Kadant worth $8,668,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of KAI. Citigroup Inc. boosted its position in Kadant by 24.2% in the second quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock valued at $106,000 after buying an additional 275 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Kadant in the second quarter valued at approximately $127,000. BNP Paribas Arbitrage SA raised its stake in shares of Kadant by 718.3% during the second quarter. BNP Paribas Arbitrage SA now owns 1,743 shares of the industrial products company’s stock valued at $131,000 after acquiring an additional 1,530 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Kadant during the second quarter valued at $150,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Kadant during the second quarter valued at $176,000. Hedge funds and other institutional investors own 90.99% of the company’s stock.
In related news, Director William P. Tully sold 1,250 shares of Kadant stock in a transaction on Monday, September 18th. The shares were sold at an average price of $89.60, for a total transaction of $112,000.00. Following the completion of the transaction, the director now owns 5,250 shares of the company’s stock, valued at $470,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sandra L. Lambert sold 6,437 shares of Kadant stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $108.66, for a total transaction of $699,444.42. Following the transaction, the vice president now directly owns 20,942 shares of the company’s stock, valued at approximately $2,275,557.72. The disclosure for this sale can be found here. Insiders have sold 27,687 shares of company stock valued at $2,887,844 in the last three months. 5.59% of the stock is owned by insiders.
KAI has been the subject of several analyst reports. ValuEngine raised shares of Kadant from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Sidoti downgraded shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target for the company. in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research downgraded shares of Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $104.67.
Kadant Inc (NYSE KAI) opened at $103.25 on Friday. The stock has a market cap of $1,129.35, a price-to-earnings ratio of 25.52 and a beta of 1.36. Kadant Inc has a 52 week low of $56.15 and a 52 week high of $114.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.65 and a current ratio of 2.35.
Kadant (NYSE:KAI) last released its quarterly earnings results on Monday, October 30th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.35. The firm had revenue of $152.79 million during the quarter, compared to the consensus estimate of $141.33 million. Kadant had a net margin of 8.17% and a return on equity of 14.84%. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. sell-side analysts forecast that Kadant Inc will post 4.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Stockholders of record on Thursday, January 11th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Wednesday, January 10th. Kadant’s payout ratio is currently 24.85%.
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Kadant Company Profile
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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